According to CNBC, there was a new development in mortgage rates in November. The interest rate rose slightly, causing a brief drop in applications during the Thanksgiving week. Overall, however, the loan business has been booming for the last year.
Looking forward, many experts believe that it will still be possible to see rates drop, and there are also those who believe that the housing market will continue to trend upward. 2017 may be the best time to get a good rate on a mortgage and to buy a home before loan rates and home prices go up.